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After more money in the banks and financial system, the National Bank is going to withdraw 25 billion rupees again today (Sunday). Rastra Bank is going to withdraw the amount for 42 days through deposit collection tool for liquidity management.
In recent weeks, the National Bank has been withdrawing money from the market almost every day. At the same time, money is going to be withdrawn from the market again today. The National Bank of India has invited banks and financial institutions to participate online till 3 pm today (Sunday) to collect deposits. It is mentioned in the notice of Rashtra Bank that when dividing by Rs.
Because there is a lot of money in the financial system, the National Bank has been withdrawing money from the market every few days so that the interest rate does not fall too low. After the inter-bank rate fell below three percent, the National Bank said that it is going to withdraw money from the market again. The Rastra Bank has stated that the negotiation of deposit collection should be done on the interest rate and multiple interest rates can also be negotiated.
Only 'A', 'B' and 'C' category banks and financial institutions will be allowed to participate in deposit collection device. It is also mentioned in the notification of Rashtra Bank that the deposit collection equipment purchased in this way can be used as collateral in other banks and financial institutions.
